The 2020 Mid-Year Economic Update_long

Wholesale Prices Up 0.2% in January

Producer Price Index now includes services.

Revamped wholesale prices increased 0.2 percent in January, seasonally adjusted, the U.S. Bureau of Labor Statistics reported. The 0.2 percent advance in prices for final demand can be primarily traced to the index for final demand goods, according to the BLS, which rose 0.4 percent.

Prices for final demand services inched up 0.1 percent.

The Bureau of Labor Statistics revamped its Producer Price Index starting in January. It now includes services, and news reports say it provides a broader view of the U.S. economy.

On an unadjusted basis, the index for final demand moved up 1.2 percent for the 12 months ended in January, the largest 12-month advance since a 1.2 percent increase in October 2013.

Within intermediate demand, the index for processed goods increased 0.6 percent in January, prices for unprocessed goods moved up 0.9 percent, and the index for services was unchanged.

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